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UPDATE: Stifel Nicolaus Initiates Timken with Buy, $65 PT

Stifel Nicolaus initiates Timken (NYSE: TKR) with a Buy rating and a price target of $65 on the company's attractive mix and continuing demand momentum.

Stifel Nicolaus notes, "Timken's product end-markets are critical broad segments of the global economy. Although these markets are rather diverse, they are still highly cyclical. Generally speaking, we view the overall mix of end markets as attractive and see the demand momentum continuing into 2012 for them. Timken has transformed its business by expanding its product offering, pruning less profitable businesses, increasing the mix of aftermarket sales, and expanding penetration into markets outside of the U.S."

TKR closed at $51.88 on Wednesday.

Posted-In: Stifel NicolausAnalyst Color Price Target Initiation Intraday Update Analyst Ratings

 

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